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Mortgage & Renting/Moving Glossary

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Home selling is full of it's own phrases and terminology, much of which will be unfamiliar to all but the seasoned home mover.

Our mortgage & moving glossary is here to guide your through some the language you are likely to encounter when moving home. We don't claim to give definitive explanations of any of the phrases here, but we do hope that it will help a little.

A

 

  • Abstract of Title
  • Accellerated Possession
  • Acre
  • Advance
  • Adverse Credit
  • Annual Percentage Rate
  • Appointed representative
  • APR
  • Arrangement Fee
  • Arrears
  • Assent
  • Assign
  • ASU Insurance
  • B

     

  • Bad Credit
  • Bankers Draft
  • BBA British Bankers Association.
  • Bonuses
  • BSA Building Societies Association.
  • Building Regulation Approval
  • Buildings and contents insurance
  • Buildings insurance
  • C

     

  • Capital and interest
  • Capital Gains Tax
  • Capped rate
  • Cashback
  • CCJ
  • CGT
  • Chain
  • CML
  • Completion date
  • Consumer Credit Act
  • Contents insurance
  • Contracts
  • Conveyancing
  • Cooling Off Period
  • Council of Mortgage Lenders.
  • County Court Judgement
  • Credit File
  • Credit Reference Agency
  • Credit Scoring
  • Credit Search
  • Critical Illness
  • D

     

  • Date of entry
  • Debt Consolidation
  • Decreasing term assurance
  • Defaults
  • Deposit
  • Disbursements
  • Discount term
  • Discounted rate
  • E

     

  • Early redemption charges
  • Endowment
  • Equity
  • Equity release
  • Estate agency fees
  • Exchange of contracts
  • Extra cover or accidental cover
  • F

     

  • Fixed Rate Loans
  • Fixtures
  • Flexible mortgage
  • FPC Financial planning certificate
  • Freehold
  • Freeholder
  • G

     

  • Gazump
  • Gazunder
  • Ground rent
  • Guaranteed death benefit
  • H

     

  • High Risk
  • HM Land Registry
  • Home Buyers Report
  • Homebuyers report
  • I

     

  • IFAs Independent Financial Advisers.
  • Income multipliers or multiples
  • Income protection insurance
  • Income references
  • Interest only
  • Interest Rates
  • IPT Insurance premium tax.
  • L

     

  • Leasehold
  • Leaseholder
  • Lender
  • Level term assurance
  • Licensed conveyancer
  • Life Insurance
  • Loan to Value
  • Loyalty bonus
  • LTV
  • M

     

  • MIG
  • Mortgage
  • Mortgage Indemnity Guarantee
  • Mortgagee
  • Mortgagor
  • MRP Mortgage Repayment Protection
  • Multiple agency
  • Mutuals
  • N

     

  • Negative equity
  • New for old
  • No-claims bonus
  • Non-status
  • O

     

  • On risk
  • P

     

  • Payment Protection
  • PEP
  • Personal Loans
  • Personal pension
  • PHI Permanent health insurance.
  • Policy excess
  • Policy schedule
  • Possession
  • Private medical insurance
  • Property Misdescriptions Act
  • Purchaser
  • R

     

  • Rebuilding cost
  • Remittance fee
  • Remortgage
  • Removal expenses
  • Repayment
  • Replacement value
  • S

     

  • Sealing fee
  • Searches
  • Second Charge
  • Secured Loans
  • Self-certified
  • Settlement
  • Sole agent
  • Solicitor
  • Stamp duty
  • Structural survey
  • Sum assured
  • SVR Standard variable rate.
  • T

     

  • Term
  • Third party buildings insurance
  • Tie-in period
  • Title deeds
  • Transfer deed
  • U

     

  • Unit trust
  • Unit-linked endowment
  • Unitised with-profits endowment
  • Unsecured Loan
  • V

     

  • Valuation
  • Variable rate
  • Vendor
  • W

     

  • With-profits endowment
  •    
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